What Makes a CLM Tool Special These Days? [PRO]

What should you look for if you want to drive a more mature contract lifecycle management (CLM) approach – one that takes you beyond just getting all your contracts in one place? If we look at the CLM providers in the market over the years, several companies have been either acquired by or merged with firms originating from either sourcing or e-procurement in the pursuit of a suite offering, and these solutions are now being integrated into the broader offering. Among the remaining, or independent, providers in the space are companies that deliver decent contract repository functionality, which is to say they can take your executed documents and push them into the CLM tool, and they can track numerous data points well, and most CLM providers also do a good job of negotiating contracts. Isn’t that good enough? What else might there be to CLM? What can we do to take CLM to the proverbial next level? This Spend Matters PRO research brief aims to answer those questions and points out what features and tools ideal CLM solutions should have.